M&A Deal Summary

Horizon Global Acquires Westfalia-Automotive

On August 25, 2016, Horizon Global Corp. acquired automotive company Westfalia-Automotive GmbH from BayernLB Capital Partner and DPE Deutsche Private Equity GmbH for 89M EUR

Acquisition Highlights
  • This is Horizon Global’s 3rd transaction in the Automotive sector.
  • This is Horizon Global’s 0th largest (disclosed) transaction.
  • This is Horizon Global’s 1st transaction in Germany.

M&A Deal Summary

Date 2016-08-25
Target Westfalia-Automotive GmbH
Sector Automotive
Buyer(s) Horizon Global Corp.
Sellers(s) BayernLB Capital Partner
DPE Deutsche Private Equity GmbH
Deal Type Add-on Acquisition
Deal Value 89M EUR
Advisor(s) Eversheds LLP
Jones Day (Legal)

Target

Westfalia-Automotive GmbH

Rheda-Wiedenbrück, Germany
website
Westfalia-Automotive GmbH is a manufacturer of towbars, wiring kits and carrier systems for cars and light utility vehicles with an international presence.

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Buyer(S) 1

Buyer

Horizon Global Corp.

Plymouth, Michigan, United States

website


Category Company
Founded 2015
SectorAutomotive
Employees4,000
Revenue 661M USD (2020)
DESCRIPTION

Horizon Global is a designer, manufacturer and distributor of a wide variety of high-quality, custom-engineered towing, trailering, cargo management and other related accessory products on a global basis, serving the automotive aftermarket, retail and OE channels. Horizon Global was founded in 2015 is based in Plymouth, Michigan.


DEAL STATS #
Overall 4 of 4
Sector (Automotive) 3 of 3
Type (Add-on Acquisition) 2 of 2
Country (Germany) 1 of 1
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-01 Cequent Performance Products, Inc. (Fulton)

Plymouth, Michigan, United States

Cequent Performance Products, Inc. (Fulton) is a manufacturer of line of trailer jacks, winches, and couplers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-16 Horizon Global Corp. - Asia-Pacific Business Segment

United States

Horizon Global Corp. - Asia-Pacific Business Segment is a manufacturer and distributor of automotive products.

Sell AU$340M

Seller(S) 2

SELLER

BayernLB Capital Partner

website


Category Private Equity Firm
Founded 1969
SizeSmall
Type Sector Agnostic
DESCRIPTION

BayernLB Capital Partner is a German investment firm focused on providing equity and mezzanine capital to growth-oriented small to medium-sized companies. The Firm looks to invest €5 to €30 million in profitable companies with at least €15 million in revenue. BayernLB does not have any sector preferences and will consider a variety of investment situations including growth capital financings, divestitures, and buyouts. BayernLB Capital Partner was formed in 1969 and is based in Munich.


DEAL STATS #
Overall 4 of 4
Sector (Automotive) 1 of 1
Type (Add-on Acquisition) 2 of 2
Country (Germany) 4 of 4
Year (2016) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-21 EnOcean GmbH

Oberhaching, Germany

EnOcean GmbH is a energy-autonomous and maintenance-free wireless sensors for use in buildings.

Sell -
SELLER

DPE Deutsche Private Equity GmbH

Munich, Germany

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2007
PE ASSETS 600M EUR
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

DPE Deutsche Private Equity GmbH is a private equity firm focused on growth capital investments in German, Swiss and Austrian middle-market companies. Parcom looks to invest €5 to €50 million in businesses valued from €10 to €150 million. Target sectors include business services, education, healthcare, industrial technology and alternative energy/environmental. Parcom prefers majority positions but will consider minority situations with an agreed upon strategy and exit and control clauses. Parcom will not invest in start-ups or turnaround situations. Parcom Deutsche Private Equity is a unit of Parcom Capital, an investment subsidiary of the Dutch ING Group. Parcom Deutsche Private Equity was formed in 2007 and is based in Munich, Germany.


DEAL STATS #
Overall 5 of 9
Sector (Automotive) 1 of 1
Type (Add-on Acquisition) 4 of 4
Country (Germany) 5 of 9
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-27 Elatec GmbH

Puchheim, Germany

Elatec is a provider in the development and global sales of contactless (RFID, NFC, Bluetooth) and contact (SmartCard) readers/writers. Elatec modules enable the clear identification of individual users on end devices and are used across a broad range of numerous applications and solutions, such as secure printing, elevator systems, fitness devices, industrial production, kiosk, physical access, and point-of-sale systems. Elatec was formed in 1998 and is based in Puchheim, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-09 Euro-Druckservice GmbH

Passau, Germany

Euro-Druckservice operates from 12 locations across Central and Eastern Europe (CEE) and is one of the market leaders in industrial printing. Web-offset printing is best suited to large runs of time-sensitive products, particularly magazines and tactical promotional print for multiple retailers. Euro-Druckservice was founded in 1992 and is based in Passau, Germany.

Buy -